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Implementing an offerwall monetization strategy
This episode, we’re diving into building your offerwall monetization strategy – specifically, how to implement it.
Welcome back! So far in our offerwall series, we’ve reviewed what an offerwall is and how it works. This episode, we’re diving into building your offerwall monetization strategy – specifically, how to implement it.
What it takes to monetize with offerwall
Before you start monetizing with offerwall, it’s important to make sure your game has all the necessary components. Every offerwall needs a strong foundation: strong hard currency and long-term player retention.
Offers from your offerwall are only worth it if your players see value in the currency they get – that’s why we use hard currency. Whether it’s diamonds, gems, or coins – the currency you use in your offerwall should be the most valuable currency you have.
You should also make sure your players are invested, active, and loyal. These “long-term retention players,” as we call it, play on a regular basis – and would naturally find value in offerwalls because they’re already so committed to the app.
Now, let’s explore a crucial piece of any offerwall monetization strategy: placement strategy.
The importance of placement strategy
We know that offerwalls have major monetization potential, but users still have to choose to engage with it during the game. That’s where traffic drivers come in.
Traffic drivers work like call-to-action buttons and they’re an essential piece of offerwall engagement. For users to end up at the offerwall, traffic drivers need to be extremely easy to spot and accessible for users to click on.
That’s why placement strategy is so important – the more strategic you can be with traffic drivers, the more offerwall engagement and revenue you can get. To maximize your placement strategy, it’s worth testing different traffic drivers to find the ones that achieve the key balance: maximum engagement with the maximum user experience.
Next, we’ll discuss how and where to set up placements in your game.
How to set up placements
Let’s move on to actually setting up the placements in your game. The easiest way to implement your monetization strategy is through a mediation platform. From there, you can specify which placements you want to add – what kind of placement it is, where it should go, and its conversion rate.
You can set up multiple placements in as many locations as you want, adjusting them accordingly to maximize your KPIs. Once you’re all set up, you can check in at any time and track how your placements are performing. We’ll discuss optimizing placements more in a later episode.
Where to place offerwalls
Let’s walk through the most effective traffic driver locations to maximize your offerwall engagement.
The best traffic drivers are the most visible ones – so your game’s home screen is an ideal spot to promote your offerwall and reach the maximum number of players possible. In addition to the main screen, you can even put the traffic driver in the stats bar at the top of your home screen, since it’s a spot users check regularly.
Your store is another great spot – after all, anyone who’s there is already looking to get more hard currency. This is an ideal place to promote the offerwall because you’re providing players an opportunity to save their money – and get the same quality reward by just spending their time.
Out of currency
Another optimal time to place your offerwall traffic driver is during one of the most natural breaks in gameplay – when players run out of currency. This way, you can offer players a solution at an optimal time: when you have their attention, and when they need the currency most.
To make your offerwall fit into your game more naturally, try adapting your offerwall to your game’s branding. By customizing your offerwall with your game’s themes and colors, jumping in and out of your offerwall can become a more seamless and fluid game experience.
Now that we’ve gone over your placement strategy, let’s talk numbers – specifically, how to set up your offerwall economy.
Setting up your offerwall’s economy
Setting up your offerwall’s economy is a simple process – just determine your rewards and your conversion rates.
Like we mentioned earlier in this episode – to get players excited to engage in your game’s offers, players need to find value in your rewards – that’s why we recommend hard currency. Naturally, a larger task should be met with a larger reward. Players who spend their time downloading another game and reach level 10 would expect a larger prize than those who just fill out a short survey.
Rewards are crucial for your users, but what exactly are these coins or gems worth? Setting the right conversion rate is key to maximizing the amount of revenue that eventually lands in your pocket.
Ideally, you want a balance – the offerwall is a nice alternative for non-payers, but paying users are still a critical revenue stream. That’s why we recommend setting the same in-app placement conversion rate as your shop. Let’s say your store sells 100 emeralds for the equivalent of 10 dollars – in your offerwall, 100 emeralds should also cost the same. If your offerwall conversion rate is too high, you’re cannibalizing your in-app purchase rate – and, of course, if your conversion rate is too low, the users won’t be incentivized to participate in the offers at all. Ideally, you want a balance.
To find the sweet spot that maximizes your offerwall revenue and engagement, try testing different offerwall rewards as you go. We’ll hear more about that next episode.
Also, make sure to use the same conversion rate for all of your offerwall traffic drivers. You don’t want one traffic driver on the home screen competing with another on the store – so it’s easiest to put them both on the same playing field.
If you have any questions about figuring out your ideal conversion rate, just reach out to your account manager.
This episode, we’ve explored how to implement your offerwall strategy – from setting up placements to determining your ideal conversion rate. Now that you’ve got the set up down, in the next episode, we’ll show you how to actually optimize this strategy and boost your KPIs. Stay tuned!